Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Maine
MEFININSREALNGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23,367.10
Year-over-Year Change
94.49%
Date Range
1/1/1997 - 1/1/2024
Summary
This economic trend measures the gross domestic product (GDP) for the finance, insurance, real estate, rental, and leasing industries in the state of Maine. It is an important indicator of the health and composition of Maine's economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The MEFININSREALNGSP series tracks the total value of goods and services produced by the finance, insurance, real estate, rental, and leasing sectors in Maine. This data is used by economists and policymakers to analyze the state's economic structure and performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This GDP data helps inform policy decisions and investment strategies related to Maine's key economic sectors.
Key Facts
- Maine's finance, insurance, real estate, rental, and leasing sectors account for over 20% of the state's GDP.
- This industry group has shown steady growth in Maine over the past decade.
- The performance of these sectors is closely tied to the state's overall economic health.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) of the finance, insurance, real estate, rental, and leasing industries in the state of Maine.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding the composition and performance of Maine's economy, as these sectors are key drivers of economic activity in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this GDP data to inform decisions and strategies related to Maine's finance, real estate, and other key economic sectors.
Q: Are there update delays or limitations?
A: There may be a lag of several months between the end of a reporting period and the release of the GDP data for Maine's industries.
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Citation
U.S. Federal Reserve, Gross Domestic Product: Finance, Insurance, Real Estate, Rental, and Leasing (52, 53) in Maine (MEFININSREALNGSP), retrieved from FRED.